Teresa Goody Guillen, the potential next Securities and Exchange Commission Chair has highlighted the major changes coming into the agency under Trump’s presidency.
Guillen shared her enthusiasm for making “SEC great again!” and “crypto great again!” on her X post, while sharing the press release about Gary Gensler’s departure from the position.
She says that “SEC must restore trust, engage with industry, and end regulation by enforcement” while chanting Trump’s popular slogan. Furthermore, she pointed towards SEC’s reformation towards protecting investors and staging America as a prominent country on the world’s financial front.
“It’s time to knockdown needless obstacles, remove burdens, clarify crypto rules, and promote innovation.” says the Republican candidate for SEC chair.
Teresa Goody Guillen could become a bridge between traditional finance and the crypto world
It is expected that the appointment of Teresa Goody Gullen for the SEC Chair position could bring about changes beneficial for the crypto industry.
She is a partner at BakerHostetler and also co-leads the blockchain practice related to the firm. This gives her the apt experience of establishing a bridge between the financial sector to the ever-changing crypto world.
Moreover, her leadership skills can make regulations more collaborative for cryptocurrency. This could make up solid rules regarding the attitude towards digital assets, further allowing crypto-related businesses to step into the legal industry while also becoming the traction for investments.
As a major promise for his electoral campaign, Trump had vowed to fire Gary Gensler from SEC Chair. Following this the press release shares that Gensler will be officially parting away from his position effective on January 2oth, 2025. He joined this position from April 17th, 2021.
During his statement at Practicing Law Institute’s 56th Annual Institute on SEC regulation, he reflected on achievements like reforms to treasury markets, improvements in equity and market rules, and strengthening of corporate governance measures.
Gensler also restated the agency’s view that Bitcoin is not considered a security. Moving on he also highlighted that other cryptocurrencies that checkmark the criteria of the SEC under federal law need proper registration and the requirements for disclosure.
